Fastly, Inc. (NYSE:FSLY) Receives Consensus Rating of “Hold” from Analysts

Fastly, Inc. (NYSE:FSLY) has been given an average rating of “Hold” by the eight ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $14.44.

Several research firms have recently commented on FSLY. DA Davidson downgraded shares of Fastly from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $24.00 to $8.50 in a report on Thursday, May 2nd. Bank of America downgraded shares of Fastly from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $18.00 to $8.00 in a report on Thursday, May 2nd. Piper Sandler raised shares of Fastly from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $19.00 to $16.00 in a report on Monday, April 8th. Royal Bank of Canada lowered their target price on shares of Fastly from $18.00 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, May 2nd. Finally, Citigroup lowered their target price on shares of Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th.

Insider Activity at Fastly

In related news, CEO Todd Nightingale sold 65,447 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $8.84, for a total transaction of $578,551.48. Following the sale, the chief executive officer now owns 1,741,181 shares of the company’s stock, valued at $15,392,040.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Todd Nightingale sold 65,447 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $8.84, for a total transaction of $578,551.48. Following the sale, the chief executive officer now owns 1,741,181 shares of the company’s stock, valued at $15,392,040.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Ronald W. Kisling sold 12,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $7.27, for a total transaction of $87,240.00. Following the sale, the chief financial officer now directly owns 593,506 shares in the company, valued at approximately $4,314,788.62. The disclosure for this sale can be found here. Insiders have sold a total of 135,254 shares of company stock valued at $1,208,322 over the last 90 days. 6.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Fastly by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,242 shares of the company’s stock worth $133,000 after purchasing an additional 863 shares during the last quarter. EntryPoint Capital LLC grew its holdings in Fastly by 41.1% during the 1st quarter. EntryPoint Capital LLC now owns 5,644 shares of the company’s stock worth $73,000 after acquiring an additional 1,643 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Fastly by 13.4% during the 1st quarter. Principal Financial Group Inc. now owns 16,063 shares of the company’s stock worth $208,000 after acquiring an additional 1,897 shares in the last quarter. Allworth Financial LP grew its holdings in Fastly by 1,420.9% during the 4th quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock worth $38,000 after acquiring an additional 1,975 shares in the last quarter. Finally, CWM LLC grew its holdings in Fastly by 10.5% during the 2nd quarter. CWM LLC now owns 22,266 shares of the company’s stock worth $164,000 after acquiring an additional 2,121 shares in the last quarter. Institutional investors own 79.71% of the company’s stock.

Fastly Price Performance

Shares of NYSE:FSLY opened at $7.13 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.83 and a quick ratio of 3.83. Fastly has a 1-year low of $6.77 and a 1-year high of $25.87. The company has a market capitalization of $974.23 million, a P/E ratio of -7.13 and a beta of 1.13. The firm’s 50 day simple moving average is $7.86 and its two-hundred day simple moving average is $13.13.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.02. Fastly had a negative net margin of 25.26% and a negative return on equity of 15.82%. The business had revenue of $133.52 million for the quarter, compared to the consensus estimate of $133.01 million. Research analysts expect that Fastly will post -1.08 EPS for the current fiscal year.

About Fastly

Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the Asia Pacific, Europe, and internationally. The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the internet.